Nils Fröhlich, Fabian Richter

Measuring price-value deviations in the light of Dimensional Analysis

17 Seiten · 5,00 EUR
(11. März 2019)

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From the introduction:

In their text "Measuring Price-Value Deviations in the Light of Dimensional Analysis", they use econometric methods to examine a core statement of labour value theory, namely the extent to which labour values determine the relative prices of goods. If some problems in the existing literature regarding the dimensions of the variables under consideration, the data selection and the specification of the model are cleared up, it can be seen that prices of goods are very closely correlated with labour values – a result that corresponds with Fritz Helmedag’s theoretical contributions on the topic.